Bull-run drives Pakistan Stock Exchange to new heights

Pakistan Stock Exchange (PSX) extended its record-breaking spree on Friday, soaring past the 109,000-point milestone, reported 4NewsHD TV channel.

As the trading was suspended due to Friday prayers break, the PSX benchmark KSE-100 Shares Index surged 799.02 points, or 0.73%, to hit 109,037.98, building on Thursday’s historic rally that saw the index crossed 108,000 mark for the first time.

In total, shares of 456 companies were traded so far with prices of 243 stocks going up and rates of 195 going down, with 18 unchanged.

Analysists said that record-breaking volumes underscored the Thursday’s intense trading activity, reflecting broad-based participation across sectors. The rally was predominantly driven by relentless buying from local mutual funds, the primary catalyst for sustaining the bull run. Blue-chip stocks and high-capitalisation sectors spearheaded the advance, with major contributions from MARI, FFC, HUBC, UBL, PPL, and LUCK added valuable points to the index’s stellar performance.

They further said that the stocks closed record bullish to a new all-time high led by scrips across the board as investors eye imminent SBP policy easing amid thin inflation data and robust economic indicators.

On Thursday at the end of trading, the benchmark KSE-100 index soared 3,134.63 points, or 2.98%, to close at 108,238.97. Shares of 473 companies were traded. Of these, 307 stocks closed higher, 129 fell and 37 remained unchanged.

The Bank of Punjab was the volume leader with trading in 163.5 million shares, gaining Rs1 to close at Rs10.09. It was followed by WorldCall Telecom with 150.5 million shares, losing Rs0.02 to close at Rs1.59 and Cnergyico PK with 86.7 million shares, gaining Rs0.02 to close at Rs6.87. The foreign investors sold shares worth Rs1.33 billion.

Shares of 473 companies were traded. Of these, 307 stocks closed higher, 129 fell and 37 remained unchanged.

Reporter Ayaz Rana